Episode 1

The hard lessons of the 20th Century have led many to believe that inflation is bad, yet it can also be a sign of a healthy economy.

In part one, financial journalist and broadcaster Max Flint investigates the negatives of inflation using the lessons of history by revisiting its bad reputation, in different parts of the world.

Max hears about wooden money and cash made from clothes in 1920's Weimar Republic, about the impact of high inflation in 1970's Britain and the Zimbabwean 'ten trillion dollar note'.

He meets inflation historian Adam Fergusson to discuss the lessons of hyper-inflation in Germany, visits the Bank of England to find out how Britain now controls inflation and takes a look at banknotes with mind-boggling denominations.

Max questions whether a little inflation could actually be good for the economy.

(Image: Zimbabwean ten million dollar note. Credit: AP PHOTO/Tsvangirayi Mukwazhi)